Zacks Investment Research upgraded shares of NanoString Technologies, Inc. (NASDAQ:NSTG) from a hold rating to a buy rating in a report issued on Wednesday morning. The brokerage currently has $19.00 target price on the biotechnology company’s stock.
According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “
Other equities analysts also recently issued reports about the company. Morgan Stanley downgraded NanoString Technologies from an overweight rating to an equal weight rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Thursday, April 20th. ValuEngine upgraded NanoString Technologies from a sell rating to a hold rating in a research report on Friday, June 2nd.
Shares of NanoString Technologies (NASDAQ NSTG) traded up 0.31% on Wednesday, hitting $16.19. The stock had a trading volume of 42,852 shares. The stock has a 50 day moving average of $17.03 and a 200-day moving average of $18.73. NanoString Technologies has a 12 month low of $12.95 and a 12 month high of $23.45. The stock’s market cap is $351.16 million.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.87). The firm had revenue of $18.10 million for the quarter, compared to the consensus estimate of $17.53 million. NanoString Technologies had a negative return on equity of 6,777.29% and a negative net margin of 57.13%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the business posted ($0.74) EPS. Equities research analysts anticipate that NanoString Technologies will post ($2.51) EPS for the current year.
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A number of large investors have recently bought and sold shares of NSTG. Morgan Stanley boosted its stake in shares of NanoString Technologies by 15.2% in the first quarter. Morgan Stanley now owns 1,886,772 shares of the biotechnology company’s stock valued at $37,490,000 after buying an additional 248,581 shares during the period. RE Advisers Corp boosted its stake in shares of NanoString Technologies by 48.2% in the first quarter. RE Advisers Corp now owns 492,000 shares of the biotechnology company’s stock valued at $9,776,000 after buying an additional 160,000 shares during the period. Renaissance Technologies LLC boosted its stake in shares of NanoString Technologies by 111.3% in the fourth quarter. Renaissance Technologies LLC now owns 240,200 shares of the biotechnology company’s stock valued at $5,356,000 after buying an additional 126,500 shares during the period. Tekla Capital Management LLC purchased a new stake in shares of NanoString Technologies during the first quarter valued at about $2,255,000. Finally, Spark Investment Management LLC boosted its stake in shares of NanoString Technologies by 71.1% in the first quarter. Spark Investment Management LLC now owns 258,300 shares of the biotechnology company’s stock valued at $5,132,000 after buying an additional 107,300 shares during the period. 87.05% of the stock is currently owned by institutional investors and hedge funds.
About NanoString Technologies
NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
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